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Author Question: Mary Kay has a child who will start college in 10 years. She plans to set aside $2,400 per year for ... (Read 635 times)

WWatsford

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Question 1

Matt is 25 and wants to save $2,000 per year in an IRA until he retires at age 65. If Matt's investment earns 9%, how much will his IRA be worth when he retires?


◦ $64,030
◦ $579,471
◦ $272,620
◦ $675,780

Question 2

Mary Kay has a child who will start college in 10 years. She plans to set aside $2,400 per year for her child's education during this period and estimates she will earn an annual rate of 8%. How much will Mary Kay have available for her child's education in 10 years?


◦ $24,000
◦ $27,446
◦ $34,769
◦ $29,971


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Marked as best answer by WWatsford on Apr 14, 2019

zhanghao

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